Announcing Our New Express Financial Planning Tool
Financial planning can feel overwhelming, especially when you’re juggling investments, taxes, estate planning, and retirement all at once. Often the hardest part isn't finding a financial advisor, it’s knowing where to even start.
At Traverse Capital Management, we believe in balancing human connection and technological innovation to deliver exceptional service to our clients. That’s why we’ve recently introduced a self-service version of our financial planning software to support new and existing clients alike—designed to make the process feel less daunting and more actionable from day one.
How Financial Planning Tools Make a Difference
A skilled financial advisor has more than just extensive knowledge about financial topics. They also understand how to communicate that knowledge in a way that clients of all backgrounds can easily understand and apply. And the right financial planning software serves to facilitate that conversation. Here’s how:
It Provides Visualizations
When clients have a visual representation of their current financial status or a projected scenario, complex financial decisions become much easier to understand.
It Simplifies Projections
What happens if you retire early or take out a second mortgage? Our financial planning tools let us run eye-opening test scenarios in a matter of seconds.
It Offers a Comprehensive View
Our software includes information about your taxes, estate plan, investment accounts, and other parts of your financial picture.
Helping Our Clients Jump Right In
For many clients, it’s difficult to get a feel for a financial advisor’s skill set before they start offering advice. Often, working with a new advisor can feel like too big a commitment.
Our new tool, an express version of our comprehensive financial planning software, makes it possible for prospective clients to get a sense of the planning process right away. Here’s how it works:
- The client chooses an area to focus on.
- They enter a few key pieces of information.
- The tool creates a detailed report with a personalized, preliminary financial plan.
When selecting a focus area, clients can choose from several modules, including the following:
- Social Security: Uses data-based projections to help clients create a Social Security strategy
- Retirement: Takes investments and projected retirement expenses into account to build a plan for retirement income
- Debt: Helps clients create an optimized repayment plan for credit cards, loans, and other debts
This express version of the tool lets us offer preliminary financial plans at no cost to would-be clients. Once the initial financial plan has been generated, we explain it in depth. That way potential clients get a preview of what it’s like to work with us without fear of commitment.
Making the Transition
What happens if a prospective client has a positive experience and wants to start working with us? Our financial tool makes the transition seamless. Instead of starting from scratch with a different software system, we can turn the express plan into a full financial plan with a single click.
Prospective clients benefit whether they stay with us long-term or not. Our financial planning tool gives them an actionable financial plan they can keep. And if they do decide to continue working with us, that preliminary plan becomes a data-entry starting point.
Need Help With Financial Planning?
The process of financial planning can be overwhelming, especially for those with complex asset situations. That’s why Traverse Capital Management recognizes the importance of using the right technological tools. Our financial planning software is no substitute for human insight, but it can provide valuable support.
Find out today whether we might be the right firm for you. To schedule a meeting, call (631) 228-5500 or email Info@TraverseCM.com. Prefer online? Use the scheduling link on the website to book an intro call.
Frequently Asked Questions
What does a financial planning tool actually do?
Financial planning software pulls together the different pieces of your financial life (investments, taxes, debt, retirement projections, estate planning) and helps you see how they interact. The real value is in the "what-if" scenarios: what happens to your retirement timeline if you pay off your mortgage early, or how does taking Social Security at 62 versus 67 affect your long-term income? A good tool makes those projections visual and easy to understand, so complex decisions feel less abstract. That said, software is only as useful as the person interpreting it, which is why it works best as a complement to an advisor's guidance, not a replacement for it.
Can I try financial planning software before committing to an advisor?
Yes (and, frankly, you should). The early stages of working with a financial advisor used to mean making a commitment before you ever got a feel for their approach. Now some firms offer prospective clients the ability to test-drive the planning process beforehand. You choose a focus area (e.g., retirement, Social Security, or debt), enter a few key details, and walk away with a personalized preliminary financial plan. If you decide to move forward, that plan becomes the foundation for a full financial strategy, so nothing is wasted. At Traverse Capital Management, we offer this express planning experience at no cost to prospective clients.
How do I know if I need a financial advisor or if I can just use planning software on my own?
If your finances are relatively straightforward, DIY tools can get you pretty far. But the more complexity you're dealing with (e.g., business ownership, multiple income streams, significant assets, estate planning needs, or a major life transition), the more likely it is that software alone will leave gaps. A financial advisor brings context that a tool can't: they understand how tax law changes affect your specific situation, how to sequence withdrawals in retirement, and how to build a plan that accounts for what you actually want your life to look like. At Traverse Capital Management, I founded the firm specifically to get away from the bias of large institutions and build deeper, more personalized relationships with clients. The goal is more than a better portfolio, it's a plan that helps you get more out of life.
About Michael
Michael Palma, President and Founder at Traverse Capital Management in Huntington, New York, believes great financial planning helps people get more out of life, not just their portfolios. Many of his clients are serious about their financial journey and the guidance they’re receiving, and they have important questions in an ever-changing financial landscape. Michael’s role is to help answer those questions in the context of each client’s vision, so decisions feel clearer and more intentional.
Michael began his financial services career after graduating from Lehigh University in 2008. Over the next 11 years at two large firms in Manhattan, he received world-class training, worked with top money managers, and ultimately led the investment division of his team. In 2019, he founded Traverse Capital Management to deliver greater independence for his clients (away from the bias of large firms) and to build deeper relationships within his local Long Island community.
Connecting with people is one of the most fulfilling parts of Michael’s work, and he’s proud to be involved in several community-based organizations. In 2010, he co-founded a weekly networking group for professionals in the Huntington area. He currently serves on the Membership Committee of, and is also involved in the Huntington Township Chamber of Commerce, where he provides outreach to help fellow members optimize their experience. He also serveshas also served on the Board of Directors of a nonprofit organization that assists the family members of unsolved crime victims. Michael enjoys hearing about his clients’ successes and how they’ve gotten to where they are—and then using his knowledge to help them continue to thrive.
Michael strives to make his family proud every day. He married his wife, Diane, in 2013, and together they share a life rooted in entrepreneurship, adventure, and family values. They have three spunky daughters: Rose, their oldest, was born with a love for horses and is undoubtedly a future equestrian champion; Stefania, their middle daughter, regularly practices Taekwondo and is well on her way to her black belt; and their youngest, Teresa, is creative and witty and can always make them laugh. In 2023, the family welcomed a playful Labrador Retriever puppy named Chili. Michael’s lifetime passion is skiing, and he loves sharing it with his girls, watching their skills progress alongside one another. To learn more about Michael, connect with him on LinkedIn.
